If you’re in the process of looking for a new home, or thinking about starting the homesearch process, then you’ve probably considered what type of home you would like. Your property search may even take you to new builds, as well as looking at some older homes. This begs the questions whether you should opt to buy a new construction home, or if an older home is a better fit for you. Consider some of the following pros and cons to new construction homes that you may not have thought of during your property search here in Santa Fe.
The number one reason someone may opt for a new construction when buying a house is simple: Everything is new. A new construction has never been lived in and sometimes, you can even design certain aspects of the home to match your personal tastes. Either way, you’re getting a home that is designed in a modern style and has never been used. Previously on the blog, we mentioned how new kitchen appliances are a top “want” for a large number of home buyers, and a new construction home can provide you with just that. Along with having new appliances, you’re also more likely to find layouts with ensuite master bathrooms and roomy, walk-in closets. A new construction can give you many things you looking for in a clean, fresh package.
One of the main things, however, that you will miss out on by choosing a new construction over a pre-existing home is the character that a home can have. Older homes have unique construction features and improvements that can make them truly feel like home, and perhaps a little less sterile. Features like wainscoting and a unique fireplace may be more along the lines of your taste. Whether you find the place where previous owners marked their kid’s heights or your prefer to simply be pleased by the USB charging ports in the outlets, is completely up to you.
However, sometimes the determining factor for your home purchase can be the price point of the home. There are many factors that go into the price of a home. New construction homes will typically have a range, but may be on the higher end of price per square footage. Homes that have have a bit of use and love may allow you to get more square footage for the same price. There are many different factors that go into a home’s price, however, the age can definitely be one of them.
While the initial price point may seem like a downside to a new construction sometimes, the flip side is that you will have much lower maintenance and repair costs associated with a new construction over an older home. You may also find that your utility bills are lower in a new construction due to many energy efficiency advancements that have happened over the last several decades. Overall, the maintenance costs versus the price point may be a trade off worth considering. If you have money readily available for repairs, an older home may give you everything you want. If you would prefer to avoid the hassle of maintenance and repairs, bundling the total cost of the home into a loan may be ideal for you.
Lastly, location can play a major factor if you would prefer a new construction home to a older home during your property search. New construction builds can be hit or miss when it comes to location in established cities. Typically the new build lots are near busier roads or areas where you may not want to be because all the previously built homes have already been erected in ideal locations. The one thing you need to remember is no matter how great a home, if it’s not in a location that is ideal for you, you cannot change that.
As you have seen there are obvious pluses and minuses to new build homes when you’re searching for the perfect property. The main takeaway is that you need to find a home that works for you and your budget. In some cases, this may mean buying a new construction home and in others, an older home may have all the character and charm you’ve been looking for. Not matter your preference the real estate agents at Berkshire Hathaway in Santa Fe are the experts to help guide you through the entire process. Contact our office today!